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Neighborhood Parks and Residential Property Values in Greenville, South Carolina

Published online by Cambridge University Press:  12 June 2017

Molly Espey  and
Kwame Owusu-Edusei
Molly Espey
Affiliation:
Department of Agricultural and Applied Economics, Clemson University, Clemson, SC
Kwame Owusu-Edusei
Affiliation:
Department of Agricultural and Applied Economics, Clemson University, Clemson, SC
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Abstract

The effect on housing prices of proximity to different types of parks is estimated using a unique data set of single-family homes sold between 1990 and 1999 in Greenville, South Carolina. While the value of park proximity is found to vary with respect to park size and amenities, the estimates from this study are larger than previous studies. The greatest impact on housing values was found with proximity to small neighborhood parks, with the positive impact of proximity to both small and medium-size parks extending to homes as far as 1500 feet from the park.

Keywords

hedonic valuationopen spaceurban parksvalue of parks
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 33 , Issue 3 , December 2001 , pp. 487 - 492
Copyright
Copyright © Southern Agricultural Economics Association 2001

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